MONTRÉAL, May 03, 2022 (GLOBE NEWSWIRE) — Laurentian Bank of Canada (TSX:LB) (“Laurentian Bank”) today announced its intention to redeem all outstanding $350,000,000 4.25% Notes due June 22, 2027 (Non-Viability Contingent Capital (NVCC)) (subordinated indebtedness) (the “Notes”) at 100% of their principal amount plus accrued and unpaid interest to, but excluding, the redemption date. The redemption will occur on June 22, 2022. Formal notice will be delivered to the registered holders of Notes in accordance with the terms and conditions set forth in the related trust indenture.
The redemption has been approved by the Office of the Superintendent of Financial Institutions and will be financed out of the general funds of Laurentian Bank. This redemption is part of Laurentian Bank’s ongoing management of its Tier 2 capital.
About Laurentian Bank of Canada
At Laurentian Bank, we believe we can change banking for the better. By seeing beyond numbers.
Founded in Montreal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, we have more than 2,900 employees working together as one team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. We protect, manage and grow $46.1 billion in balance sheet assets and $30.2 billion in assets under administration.
We drive results by placing our customers first, making the better choice, acting courageously, and believing everyone belongs.